Coal Fourplexes

Multi-Family for Sale
Catylist Listing ID: 30048726
Property Subtypes: Duplex/Fourplex
Number of Units: 8 Units
Building Size (RSF): 4,983 SF
Gross Land Area: 0.30 Acres
Sale Price: $601,800
Unit Price: $75,225 Per Unit
Property Use Type: Investment
Building Name: Coal Fourplexes
Usable Size (USF): 4,983 SF
Sale Terms: Cash to Seller
Cap Rate: 6.94%
Average Occupancy Rate: 100
Last Updated: 7/5/2017

Overview / Comments

Two four plexes in downtown Albuquerque - hardwood floors, attractive interiors, although the Seller is interested in selling all 8 units at the same time, the Seller is open to selling each fourplex separately, with the intention of having a similar closing timeframe for each buyer to allow the Seller to complete a 1031 exchange. Based on income, 1300 Coal SW is listed for $283,050 and 1304 Coal SW is listed for $318,750, for a combined ask price of $601,880. Please note comparable sales supports a price closer to $736,000.

Measures of investment performance: 6.94% Cap rate, 10.56 cash on cash, 25.24% before tax IRR and 20.28% after tax IRR.

Tour rescheduled due to rain on 4/25 at noon, email LA for new tour date and offer deadline.

Located just west of downtown Albuquerque, east of the historic Albuquerque Country Club neighborhood north of the Rio Grane Zoo/BioPark and south of Old Town Albuquerque, this location has a walk score of 72, transit score of 45, and bike score of 94.

Financials

Finance Data Year 2015
Potential Rental Income $65,812 (Annual)
Net Operating Income $41,751 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: Downtown
Taxing Authority: Bernalillo
Tax ID/APN: 101305734833010705
Zoning: SU-2 - Special Neighborhood Zone
Percent Occupied: 100%
Total Number of Buildings: 4
Property Condition: Good
Number of Stories: 1
Year Built: 1940

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,683 112,918 285,411
Median Age: 37.06 33.94 33.84
Households: 6,420 44,995 112,462

Contact

Source

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